As Amended upto 01-07-2023
FOR THE TAX YEAR - 2024
Tax Rates for Non-Salaried Individual / AOPs
[Division I, Part I of the First Schedule]
| Upto Rs. 600,000 | 0% |
| Rs. 600,000 to Rs. 800,000 | 7.5% |
| Rs. 800,000 to Rs. 1,200,000 | Rs. 15,000 + 15% |
| Rs. 1,200,000 to Rs. 2,400,000 | Rs. 75,000 + 20% |
| Rs. 2,400,000 to Rs. 3,000,000 | Rs. 315,000 + 25% |
| Rs. 3,000,000 to Rs. 4,000,000 | Rs. 465,000 + 30% |
| Rs. 400,000 and above | Rs. 765,000 + 35% |
Tax Rates for Salaried Persons
[Division I, Part I of the First Schedule]
| Upto Rs. 600,000 | 0% |
| Rs. 600,000 to Rs. 1,200,000 | 2.5% |
| Rs. 1,200,000 to Rs. 2,400,000 | Rs. 15,000 + 12.5% |
| Rs. 2,400,000 to Rs. 3,600,000 | Rs. 165,000 + 22.5% |
| Rs. 3,600,000 to Rs. 6,000,000 | Rs. 435,000 + 27.5% |
| Rs. 6,000,000 and above | Rs. 1,095,000 + 35% |
Minimum Tax
| Nature of Payment | Section | Filer | Non-Filer |
| MINIMUM TURNOVER FOR Companies | 113 | 1.25% of turnover | |
| MINIMUM TURNOVER TAX for Ind. & AOPs (annual turnover Rs. 10 Million or more) | 113 | 1.25% of turnover | |
| In case of SSGPL, SNGPL, PIAC & Poultry Industry | 113 | 0.75% of turnover | |
| Motorcycle dealers,Oil Refineries, Oil Marketing Companies | 113 | 0.5% of turnover | |
| Distributors of Pharmaceuticals, FMCG, Cigrattes, Flour Milling, Petroleum Agents & Distributors, Rice Mills & Dealers, Tier-1 Retailers of FMCG, Persons through e-commerce running online market place u/s 2(38B), Persons engaged in sale/purchases of used vehicles | 113 | 0.25% of turnover | |
| SALE of Goods (by Companies) | 153(1)(a) | 5.00% | 10.00% |
| (by all Others) | 153(1)(a) | 5.50% | 11.00% |
| SALE of Rice, Cotton Seed & Edible Oil | 153(1)(a) | 1.50% | 3.00% |
| Sales of FMCG by Distributor (Companies) | 153(1)(a) | 5.00% | 10.00% |
| Sales of FMCG by Distributor (IND/ AOP) | 153(1)(a) | 5.50% | 11.00% |
| SERVICES (Companies) | 153(1)(b) | 9.00% | 18.00% |
| SERVICES (Except Companies) | 153(1)(b) | 11.00% | 22.00% |
| SERVICES rendered by Transport, Freight forwarding, Air Cargo, Courier, Manpower outsourcing, Hotel, Security Guard, Software development, Tracking, Advertising (other than print or electronic media) Share Registrar, Engineering, warehousing, services by asset management companies, data services, Telecommunication infrastructure (Tower) services, Car rental, Building maintenance, by Pakistan Stock Exchange Ltd. & Pakistan Mercantile Exchange Ltd., Inspection, Certification Testing and Training Services.oilfiled services, telecommunication services, collateral management services, travel & Tour services. | 153(1)(b) | 4.00% | 8.00% |
| Services Electronic & Print Media Advertising (Companies / Ind. / AOP) | 153(1)(b) | 1.50% | 3.00% |
| SERVICES of Stitching, Dyeing, Printing, Embroidery, Washing, Sizing & Weaving rendered to Exporter or Export House | 153(2) | 1.00% | 2.00% |
| CONTRACTS (companies) | 153(1)(c) | 7.50% | 15.00% |
| other than companies | 153(1)(c) | 8.00% | 16.00% |
| ADVERTISING Agents Commission | 233(1) | 10.00% | 20.00% |
| LIFE INSURANCE Agents (if less than 0.5M) | 233(1) | 8.00% | 16.00% |
| BROKERAGE & COMMISSION (other than above) | 233(1) | 12.00% | 24.00% |
| ELECTRICITY Bill (Ind. & AOPs) | 235(4)(a) | upto Bill Rs. 360,000 P.A. | |
Rate of Tax on Imports of Mobile Phones u/s 148
| Sr. No. | C & F Value of mobile phone (In US Dollar) | Tax (in Rs.) | |
| In CBU condition PCT Heading 8517.1219 | In CKD/SKD condition under PCT Heading 8517.1211 | ||
| 1 | Up to 30 except smart phones | 70 | - |
| 2 | Exceeding 30 and up to 100 and smart phones up to 100 | 100 | - |
| 3 | Exceeding 100 and up to 200 | 930 | - |
| 4 | Exceeding 200 and up to 350 | 970 | - |
| 5 | Exceeding 350 and up to 500 | 5,000 | 300 |
| 6 | Exceeding 500 and up to 700 | 11,500 | 5,200 |
Final Discharge of Tax
| Nature of Payment | Section | Filer | Non-Filer |
| IMPORTS (Details 12th Schedule) | |||
| Table-I (Capital goods) | 148 | 1.00% | 2.00% |
| Table-II (Raw material) | 148 | 2.00% | 4.00% |
| Table-III (Commerical Inputs) | 148 | 6.00% | 12.00% |
| IMPORTS of Finished Pharamcueticals Products | 148 | 4.00% | 8.00% |
| Manufacturers Covered under SRO 1125(I)/2015 | 148 | 1.00% | 2.00% |
| DIVIDEND | 150 | 15% to 30% | |
| PROFIT on Debt upto Rs. 0.5M (except Companies) | 151 | 15% | 30% |
| PROFIT on Debt exceeding Rs. 0.5M (other than Companies) | 151 | 15% | 30% |
| ROYALTY or Fee for Technical Services received by Non-Residents | 152(1) | 1.50% | 3.00% |
| CONTRACTS by non-resident | 152(1A) | 7% | |
| Services Media Person Advertisement | 152(1AAA) | 10% | |
| Fee for Offshore Digital Services | 152(1C) | 10% | |
| Supply of Goods - (Companies) | 152(2A)(A) | 5% | 10% |
| Supply of Goods - IND / AOP | 152(2A)(A) | 5.5% | 11% |
| SERVICES - (Companies) | 152(2A)(B) | 9% | 18% |
| SERVICES - IND / AOP | 152(2A)(B) | 11% | 22% |
| SERVICES rendered by Transport, Freight forwarding, Air Cargo, Courier, Manpower outsourcing, Hotel, Security Guard, Software development, Tracking, Advertising (other than print or electronic media) Share Registrar, Engineering, warehousing, services by asset management companies, data services, Telecommunication infrastructure (Tower) services, Car rental, Building maintenance, by Pakistan Stock Exchange Ltd. & Pakistan Mercantile Exchange Ltd., Inspection, Certification Testing and Training Services.oilfiled services, telecommunication services, collateral management services, travel & Tour services. | 152(2A)(B) | 4.00% | 8.00% |
| CONTRACTS- IND / AOP / COY | 152(2A)(C) | 8.00% | 16.00% |
| CONTRACT by Sports Person | 152(2A)(C) | 10.00% | 20.00% |
| EXPORTS | 154 | 1.00% | |
| INDENTING COMMISSION | 154(2) | 5.00% | |
| EXPORTS of Services | 154(A) | 1.00% | |
| Export proceeds of Computer software or IT services | 154(A) | 0.25% of proceed | |
| PRIZE on Prize Bond / Cross Word Puzzle | 156 | 15% | 30% |
| WINNINGS from raffle, lottery, quiz etc. | 156 | 20% | 40% |
| COMMISSION on Petroleum Products | 156A | 12% | 24% |
Section 37A Tax on Capital Gains on sale of Securities
| Holding Period | Rate of tax |
| Where the holding period does not exceed one year | 15% |
| Where the holding period exceeds one year but does not exceed two years | 12.5% |
| Where the holding period exceeds two years but does not exceed three years | 10% |
| Where the holding period exceeds three years but does not exceed four years | 7.5% |
| Where the holding period exceeds four years but does not exceed five years | 5% |
| Where the holding period exceeds five years but does not exceed six years | 2.5% |
| Where the holding period exceeds six years | 0% |
| Future commodity contracts entered into by members of Pakistan MercantileExchange | 5% |
Tax on High Earning Persons for poverty Allevation u/s 4C
| Income under section 4C | Rate of tax |
| upto Rs. 150 million | 0% of the income |
| exceeds Rs. 150 million to 200 million but does not exceed Rs. 200 million | 1% of the income |
| exceeds Rs. 250 million to 300 million | 3% of the income |
| exceeds 300 million to Rs. 350 Million | 4% of the income |
| exceeds Rs. 350 Million to Rs. 400 Million | 6% of the income |
| exceeds Rs. 400 Million to Rs. 500 Million | 8% of the income |
| Where income exceeds Rs. 500 Million | 10% of the income |
Capital Gains under Section 37
| Holding period | Open Plots | Constructed Property | Flats |
| Less than one year | 15% | 15% | 15% |
| One year to Two years | 12.5% | 10% | 7.5% |
| Two years to three years | 10% | 7.5% | 0% |
| Three years to Four years | 7.5% | 5% | 0% |
| Four years to Five years | 5% | 0% | 0% |
| Five to Six years | 2.5% | 0% | 0% |
| Exceeds Six years | 0% | 0% | 0% |
Tax on Deemed Rental Income u/s 7E
| Valued of Property to be Taxed | Rate |
| Fair market value of the property(s), in aggregate exceeding Rs. 25 million | 5% |
Payment of Tax through Electricity Connections u/s 99
| Gross Amount of Monthly Bill | Tax |
| Where the amount does not exceed Rs. 30,000 | Rs. 3,000 |
| Where the amount exceeds Rs. 30,000 but does not exceed Rs. 50,000 | Rs. 5,000 |
| Where the amount exceeds Rs. 50,000 but doesnot exceed Rs. 100,000 | Rs. 10,000 |
| Specified retailers and service providers through Income Tax General Order | Rs. 200,000 |
Tax Rates for Companies
Division II, Part I of the First Schedule
| Type | Tax Rates |
| BANKING Companies | 39% |
| PUBLIC / PRIVATE Companies | 29% |
| SMALL COMPANY | 20% |
| Alternate Corporate Tax | 17% |
| Modaraba | 25% |
Electricity
Division II, Part I of the First Schedule
| Upto 500 | 235 | 0% |
| exceeds 500 upto 2,000 | 235 | 10% of the amount |
| Exceeds 2,000 | 235 | consumers |
| Rs. 1,950/- + 5% for Industrial Consumers | ||
| Domestic Electricity | 235A | 0 if bill is less then 25,000/- monthly & 7.5% of amount of bill exceeding Rs. 25,000/- |
| Telephone Bill exceeding Rs. 1,000/- | 236(1)(a) | 15% |
| Telephone Bill / Phone Cards | 236(1)(b) | 15.00% |
| Internet Bill | 236(1)(d) | 15.00% |
Distributors, Dealers and Wholesales
| All Except Fertilizers | 236G | 0.10% | 0.20% |
| One year to Two years | 236G | 0.70% | 1.40% |
| Two years to three years | 236G | 0.25% | (If appearing in both ST& ITATL list) |
| Three years to Four years | 236H | 0.50% | 1.00% |
Sale and Purchase of Property
| Sales of Property | 236C | 3.00% | 6.00% |
| Purchase of Property | 236K | 3.00% | 10.5% |
Profit on Debt (Section 7B)
| Upto Rs. 5,000,000/- | 15% | 30% |
Income from Property (Ind & AOPs) [Section 15 & 155]
| Upto Rs. 300,000 | 0% |
| Rs. 300,001 to Rs. 600,000 | 5% |
| Rs. 600,001 to Rs. 2,000,000 | Rs. 15,000 + 10% |
| Rs. 2,000,000 and above | Rs. 155,000 + 25% |
Motor Vehicles
| Holding period | Open Plots | Constructed Property | Flats |
| On Registration by Excise & Taxation and on Sale by Manufacturer | 10,000 | ||
| Upto 850cc | 20,000 | ||
| 851cc to 1000cc | 25,000 | ||
| 1001cc to 1300cc | 50,000 | ||
| 1301cc to 1600cc | 150,000 | ||
| 1601cc to 1800cc | 200,000 | ||
| 1801cc to 2000cc | 6% of the Value | 18% | |
| 2001 cc to 2500cc | 8% of the Value | 24% | |
| 2501 cc to 3000cc | 10% of the Value | 30% | |
| Above 3000cc | 0% | 4% | |
| Advance tax on purchase of Private Motor Vehicle | 231B(2) | Filer | Non-Filer |
| Upto 850cc | 0% | 5,000 | |
| 1001cc to 1300cc | 5,000 | 10,000 | |
| 1301cc to 1600cc | 7,500 | 15,000 | |
| 1601cc to 1800cc | 18,750 | 37,500 | |
| 1801cc to 2000cc | 25,000 | 50,000 | |
| 2001 cc to 2500cc | 37,500 | 75,000 | |
| 2501 cc to 3000cc | 50,000 | 100,000 | |
| Above 3000cc | 62,500 | 125,000 | |
| Advance tax on Private Motor Vehicle | 234 | Filer | Non-Filer |
| Upto 1000cc | 800 | 1,600 | |
| 1001cc to 1199cc | 1,500 | 3,000 | |
| 1200cc to 1299cc | 1,750 | 3,500 | |
| 1300cc to 1499cc | 2,500 | 5,000 | |
| 1500cc to 1599cc | 3,750 | 7,500 | |
| 1600cc to 1999cc | 4,500 | 9,000 | |
| 2000cc & Above | 10,000 | 20,000 | |
| Advance tax on Passanger Transport Vehicle | 234 | Non Air Conditioned | Air Conditioned |
| 4 or more persons but less than 10 persons | 500 | 1,000 | |
| 10 or more persons but less than 20 persons | 1,500 | 2,000 | |
| 20 persons or more | 2,500 | 4,000 |
OTHERS
| Auction | 236A | 10.00% | 20.00% |
| Auction (in case of Immovable Property) | 236A | 5.00% | 10.00% |
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan